What is the best and least risky: bridging loan or a conventional mortgage?
My current house is not sold yet and I do not want on my new dream home, losing the payment due by September. Should I go for a bridge loan or simply a new mortgage for my new home? Which is less risky? If I get a new mortgage and I sold my current house, I can pay money to get some? Can I refinance mortgages and pay less to repay part?
It was announced recently, HUD FHA allows lenders approved short-term loans in the amount of credit to be used in the purchase of the house to issue advance. Does anyone know if most mortgages has such a program? I checked with my department of Housing and they have not yet established a blocking program. This is an FHA loan.